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81003317
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Last modified
1/14/2010 4:11:16 PM
Creation date
1/14/2010 4:11:00 PM
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DEEDS
Inst Number
81003317
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<br />81-~- p033.17 <br />date set forth for the making of the payment each <br />month, a siren as established by the Beneficiary <br />equal to the taffies-and special assessments next <br />due on the premises;--plus the premium that will <br />rte3Ct bart~ieo due and payable on insurance policies <br />crtvering the-premises, divided. by the-number of <br />months to elapse before- one month prior to the <br />dati~ when such taxes;- special assessments, and <br />premiums will be due. Bald sums to be-held by.~the <br />Beneficiary in trust to pay-the taxes, special <br />assessments, and insurance premiums. Any defi.- <br />cienGy in the amount of any aggregate monthly <br />payments (principal, interest, taxes, special <br />assessments, and insurance premiums) shall con- <br />• stitute a default. The arrangements provided for <br />in this subparagraph are far the added protection <br />of the Beneficiary, and entail no responsibility <br />on the part of the Beneficiary. <br />Trustor covenants and agrees that a failure to make any <br />gayment, either principal or interest on the note secured <br />hereby when due and payable, or a failure to comply with any <br />of the covenants and agreements herein made shall cause the <br />wools sum of money hereby secured to become due and collect- <br />ible at once at the optioai of the Beneficiary, and Beneficiary <br />shall have the right to cause Notice of Default to be given <br />and the premises to be sold as provided herein. <br />It is mutually agreed that: <br />A. At any time and from time to time upon written <br />request of Beneficiary, payment of fees and pres- <br />entation of this Trust-Teed and the nets for <br />eandarsement {in case of full reconveyarce, for <br />cancellation and retention}, without affecting the <br />liability of any person for the payment of the <br />indebtedness, Trustee may {a} consent to the <br />making of any map or plat of said property; tb) <br />join in granting any easement or czeating any <br />restriction thereon; (c) join in any subo_dination <br />or other agreement affecting this Trust Deed or <br />tine lien or charge thereof; (d} reconvey, without <br />warranty, all or any part of said property. <br />B. The Grantee in any recorveyance may be described <br />as "the parson or persons entitled thereto," and <br />the recitals thexein of any matters or facts shall <br />be conclusive proof of the truthfulness thereof. <br />G, Upon default by Truster in the payment of any <br />indebtedness secured hereby or in the performance <br />of any agreement hereunder, Beneficiary may de- <br />clare all rotas secured hereby immediately due and <br />p,~yable by delivery to Trustee of written deciara- <br />tian oi` default. If Beneficiary desires said <br />property to be sold, it shall deposit with Trustee <br />this Trust Deed and all promissory notes and <br />dgrumer+ts evidencing expesxditures secured hereby,' <br />atsd shall deliver to Trustee a written notice of <br />defasult and election to canes said property to be <br />sold i~- the. farm requited by law, which shall be <br />duly filed for record by Trustee. <br />(1) lti~ter the lapse of such time as may be re- <br />qu:r~d by laver following the recordation of <br />s8~d nvtzce of default, and notice of default <br />auec~ r~torte of sale having been given as <br />t;$qua~'ed by law, Tzu~tee, without dP..mand on <br />1'3suatt>z. shall sell sair3 property on the date <br />ate; sot thB terse and place dsaignatec3 in sa~.d <br />notice of sale, at pu#lic auction to the <br />- 2 - <br />
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